Topic: Bitcoin is Becoming a Global Currency - page 54. (Read 226367 times)
bitcoin has already been a global currency since it was first created. Satoshi waant people to use this coin as a primary school on the global and this coin is a symbol of the crypto currency revolution
Bitcoin is slowly being recognized as what it is, a currency, so it is natural more people are exchanging their fiat for bitcoin simply because it is easier to use and you don’t need to go through any kind of identity verification process unlike bank accounts.
Yes, this is one of the undeniable advantages of bitcoin. Anonymity now will not give any payment system that works with Fiat.
This attracts many people around the world. Bitcoin can now be called a serious global coin.
I completely agree with all the people here that bitcoin is already a global currency. Its is being used all over the world. But still bitcoin is not that popular. Still it has to reach a wide audience which do not even know the existence of bitcoin. I think there should be efforts by every bitcoin user to make it more popular.
I think that bitcoin will never be known to the whole world. He will remain popular only among some people. And this percentage of the population is not very large. Therefore, bitcoin will not become a global currency
I fully agree with this.Bitcoin is becoming very popular, but only a small portion of people are really using it. None of my friends I know IRL uses bitcoins, and I'd never imagine my mom using it even if it became a currency of my country.
It all depends on how we will disseminate information about it. I also did not believe in bitcoin at first, but when I tried the advantages of this coin, I began to recommend it to everyone.
It is too early in saying this though. Knowledge about Bitcoin is escalating especially now that countries such as Japan and Russia has been recognizing and legalizing it. It will caught the attention of many and the users of Bitcoin is not in one place but instead it is scattered everwhere in the whole world so in the end it is up to the people to not be ignorant and see this as a scam. As long as they are eager to learn new things and be open minded about it then most likely he will se the benefits of Bitcoin to their lives.
I'm not sure I would class some of those countries as 'major' ... but there is a general sense now that bitcoins are leaving the USA, and at an accelerating rate.
I also think same as you not sure if many country participate in situation but i predict someday bitcoin make global function in all country because its used in transaction and in paying also
In Russia, the situation with the cryptocurrency remains incomprehensible. And all plans remain only plans. They have long been trying to pass a law on the cryptocurrency, but they have not yet accepted it
I hope this issue about acceptance of bitcoin on Russia will be fix very soon. If I'm not mistaken they are one of those countries that prohibited bitcoin for a short period of time but suddenly they removed that precaution about bitcoin and instead right now they are trying to adopt, hope this will be good in no time.
Not sure where they are at with their btc tax laws
I can inform you on this matter
The Tax Service of Russia officially announced in their letter that they essentially had nothing to do with Bitcoin. In layman terms it means that they are not interested in going after Bitcoin users to levy taxes. This is what I have been telling for years myself here since collecting a Bitcoin tax (even though it is only a "subset" of an income tax, so to speak) would be a hell of a job for them. Now they made it pretty clear in an official manner
It is actually not just about Bitcoin per se
In fact, any foreign currency is treated like that in Russia. Despite the fact that earnings obtained via currency conversion (exchange) operations are explicitly and unambiguously treated as income and thus taxable according to the Tax Code of Russia, this provision doesn't get actually enforced or applied in practice. How come? The reason is basically the same why Bitcoin is officially discarded by the Tax Service of Russia. It would still be a hell of a job to tax this income (as well as prosecute the incredible numbers of people that ain't gonna pay this tax no matter what), and it will likely incur substantially more costs in terms of work and hours spent than the amount of taxes thus collected. This is the reality, and the government has to cope with it. In other words, you can't demand what you can't enforce
I think that bitcoin will never be known to the whole world. He will remain popular only among some people. And this percentage of the population is not very large. Therefore, bitcoin will not become a global currency
I fully agree with this.Bitcoin is becoming very popular, but only a small portion of people are really using it. None of my friends I know IRL uses bitcoins, and I'd never imagine my mom using it even if it became a currency of my country.
It all depends on how we will disseminate information about it. I also did not believe in bitcoin at first, but when I tried the advantages of this coin, I began to recommend it to everyone.
I think that bitcoin will never be known to the whole world. He will remain popular only among some people. And this percentage of the population is not very large. Therefore, bitcoin will not become a global currency
I fully agree with this.Bitcoin is becoming very popular, but only a small portion of people are really using it. None of my friends I know IRL uses bitcoins, and I'd never imagine my mom using it even if it became a currency of my country.
I think that bitcoin will never be known to the whole world. He will remain popular only among some people. And this percentage of the population is not very large. Therefore, bitcoin will not become a global currency
i agree. it will never become as a global currency. bitcoin is only popular to internet/technology aficionado.
just like here in my country, there places and people who are not aware of technology and internet. they do not have internet letiracy.
Bitcoin is slowly being recognized as what it is, a currency, so it is natural more people are exchanging their fiat for bitcoin simply because it is easier to use and you don’t need to go through any kind of identity verification process unlike bank accounts.
Yes, this is one of the undeniable advantages of bitcoin. Anonymity now will not give any payment system that works with Fiat.
This attracts many people around the world. Bitcoin can now be called a serious global coin.
If it becomes the world's currency then all will give the best.
is that possible?
What do you mean by all will get the best?is that possible?
If you mean that if the Global Currency will be Bitcoin and all the Currencies within the world will pay a high price for Bitcoin then that wouldn't be that wouldn't't be 100% true.
Someone could make a company that features a loan-type service that allows people to send/receive payment with a Digital amount on the UI within the website and only the admin will know that Bitcoin is being used for it.
If it becomes the world's currency then all will give the best.
is that possible?
is that possible?
Bitcoin is slowly being recognized as what it is, a currency, so it is natural more people are exchanging their fiat for bitcoin simply because it is easier to use and you don’t need to go through any kind of identity verification process unlike bank accounts.
Banks require ID's to comply with the KYC policy while bitcoin it does not need anything like that, however if we will cash out our bitcoin we are still subject to that policy because we cannot transact if our account is not verified. That is the policy in our county and I find it fair enough, I don't know if it is more strict in bigger countries. 
Bitcoin is slowly being recognized as what it is, a currency, so it is natural more people are exchanging their fiat for bitcoin simply because it is easier to use and you don’t need to go through any kind of identity verification process unlike bank accounts.
Certainly. I also want to add, bitcoin is currently a global currency since it can be used in all country as long as you have an internet connection.
Bitcoin is slowly being recognized as what it is, a currency, so it is natural more people are exchanging their fiat for bitcoin simply because it is easier to use and you don’t need to go through any kind of identity verification process unlike bank accounts.
Bitcoin can be converted to most of the currencies around the world, as well it is the one which got acceptance in large number of Countries. Even dollar is accepted only in small number of countries directly, or else we need to convert to that Country's currency. So now itself it serves as a global currency but only the capital and user base need to increase.
For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.
Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.
It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.
It has been already estimated that bitcoin would be the sixth largest reserve currency by 2030.Already,US dollars has been the global reserve currency for the last seventy years and it is now in its last stage.The world has been constantly searching an alternative currency to replace US Dollars,Euro or Yen.But they failed.Now,Bitcoin has become the center of attraction and every one has started to believe that bitcoin has the potential to replace Dollars as global reserve currency.Just like japan,most countries would start to accept bitcoin as payment.Reason for acceptance may be different.some under developed countries may accept it due to the failure of their national currency and Iran accepting bitcoin just to bypass US sanctions. Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.
It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.
I'm not sure I would class some of those countries as 'major' ... but there is a general sense now that bitcoins are leaving the USA, and at an accelerating rate.
I also think same as you not sure if many country participate in situation but i predict someday bitcoin make global function in all country because its used in transaction and in paying also
In Russia, the situation with the cryptocurrency remains incomprehensible. And all plans remain only plans. They have long been trying to pass a law on the cryptocurrency, but they have not yet accepted it
I hope this issue about acceptance of bitcoin on Russia will be fix very soon. If I'm not mistaken they are one of those countries that prohibited bitcoin for a short period of time but suddenly they removed that precaution about bitcoin and instead right now they are trying to adopt, hope this will be good in no time.
Not sure where they are at with their btc tax laws
I can inform you on this matter
The Tax Service of Russia officially announced in their letter that they essentially had nothing to do with Bitcoin. In layman terms it means that they are not interested in going after Bitcoin users to levy taxes. This is what I have been telling for years myself here since collecting a Bitcoin tax (even though it is only a "subset" of an income tax, so to speak) would be a hell of a job for them. Now they made it pretty clear in an official manner
I'm not sure I would class some of those countries as 'major' ... but there is a general sense now that bitcoins are leaving the USA, and at an accelerating rate.
I also think same as you not sure if many country participate in situation but i predict someday bitcoin make global function in all country because its used in transaction and in paying also
In Russia, the situation with the cryptocurrency remains incomprehensible. And all plans remain only plans. They have long been trying to pass a law on the cryptocurrency, but they have not yet accepted it
I hope this issue about acceptance of bitcoin on Russia will be fix very soon. If I'm not mistaken they are one of those countries that prohibited bitcoin for a short period of time but suddenly they removed that precaution about bitcoin and instead right now they are trying to adopt, hope this will be good in no time.
Not sure where they are at with their btc tax laws
I can inform you on this matter
The Tax Service of Russia officially announced in their letter that they essentially had nothing to do with Bitcoin. In layman terms it means that they are not interested in going after Bitcoin users to levy taxes. This is what I have been telling for years myself here since collecting a Bitcoin tax (even though it is only a "subset" of an income tax, so to speak) would be a hell of a job for them. Now they made it pretty clear in an official manner
Yes,only a small percentage of people are using it regularly,but as bitcoin makes it's progress we will witness how it's slowly becoming a global factor. the fact that it started with a small market and now it is steadily going up that is a good sign the it is becoming a global currency. That is why traders are more active these days because they want to share and expand bitcoins reach to the fullest
I think that bitcoin will never be known to the whole world. He will remain popular only among some people. And this percentage of the population is not very large. Therefore, bitcoin will not become a global currency
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